China's CITIC Securities: Positive Outlook for Global Tobacco Market in June-July 2024

Industry Insight by 2FIRSTS.ai

Aug.09.2024

China's CITIC Securities: Positive Outlook for Global Tobacco Market in June-July 2024

China's CITIC Securities predicts positive global tobacco market trends for June and July 2024, with various factors to consider.

On August 9th, CITIC Securities announced on its WeChat public account that it is making a positive forecast for the global new tobacco market from June to July 2024.

The organization stated that the global new tobacco market situation from June to July 2024 was fairly positive.

In June 2024, China's e-cigarette exports continued to show positive trends, increasing by 5.9% year-on-year to $1 billion.
Demand for HNB products in their core market of Japan remained high, but the promotion of IQOS in the United States has been delayed until the fourth quarter of 2024. In Europe, the increase in consumption tax and the ban on flavored tobacco products may impact demand.
In terms of traditional tobacco, cigarette production in China in the first half of 2024 showed a steady increase, up 1.6% year-on-year to 1.4 trillion sticks.
Cigarette exports from China in June saw a significant increase of 122%, with both the volume and price of tobacco imports continuing to rise.

Additionally, risk factors to consider include:

Macroeconomic pressures have led to weak demand for tobacco products;
significant changes in tobacco-related policies and regulations;
VUSE alto menthol's smooth flavor did not pass PMTA;
alternatives to disruptive aerosol technology paths;
inadequate enforcement efforts on illegal products.

References:

[1] 晨报｜分红险未来展望/收储进展将提速

Also Read:

[1] Positive Signals in E-cigarette Export and Regulation Release Report

[2] PMI Delays IQOS Trial in the US, ILUMA to Receive FDA Authorization in 2025

[3] China's E-cigarette Export Market Analysis in First Half of 2024

[4] China's E-cigarette Export Data for June 2024 Update

[5] FDA-Authorized VUSE E-Cigarettes: Diverse Nicotine Levels in Tobacco Flavors

[6] FDA Authorizes 7 VUSE Tobacco-Flavored E-cigarette Products for Sale in US

#Asia #Market #China #Heated tobacco products

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